Purvee is 50 years old and lives with her husband and 21-year-old daughter in Bayanhongor province, Mongolia. She lives with her family in a ger, a traditional Mongolian housing tent. Her daughter is a university student and her husband helps with the family business. Purvee currently operates a meat trading business in her town. She purchases meat and other animal products in bulk from herders in the countryside and transports it to the center of the province where she sells it. Purvee started her meat trading business in 2001 by selling out of a rented stall at the market in her town. During 1990-2000, she herded livestock in the countryside and gained great knowledge in selecting the best meat from the livestock. Using her knowledge, experience and good supplier relationships, she has built a strong customer base. She is planning to open a food cafe in the future. Purvee is requesting a 2,000,000-tugrug loan to purchase more meat and meat products for her business.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.